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Can I Sell My House in Foreclosure in Connecticut?

Facing the possibility of losing your home to foreclosure can be tough. Many homeowners wonder “Can I sell my house in foreclosure?” The good news is if you live in Connecticut and find yourself in this situation, there are things you can do to make it better. In this blog post, we’ll talk about how you can sell your house in foreclosure in Connecticut. We’ll share some important information and easy steps to help you out.

Home in foreclosure?

Do you have a Connecticut house that’s in foreclosure right now? Many people going through the foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property prior to foreclosure. Generally, the sooner you start, the better.

Can I Sell My House in Foreclosure in Connecticut? – How it works

There are a lot of folks in Connecticut who have faced foreclosure in the past few years. Since the changes in the economy, a lot of banks have been shifting the way that they deal with foreclosures.

Remember, the bank that carries your mortgage doesn’t want to see your home abandoned or auctioned. That costs the bank money because they have to go to court to take back the house. The bank stands to make the most amount of money by helping you to avoid foreclosure by selling your property. So, it’s in their best interest to work with you.

However, dealing with banks during any part of the foreclosure process can be a huge pain. As a homeowner, you should know the rules and how long it might take. Talking to a lawyer early on can help you make good choices. Over many years of working with banks to help stop the foreclosure process, we’ve learned a few tricks that will help you.

Working With Banks During The Foreclosure Process

It’s important to talk to the people you owe money to, like the bank. Tell them about your problems right away and see if they can help. Some banks might change your loan or find other ways to help you. It’s a good idea to reach out and see what they can do for you. Here are some tips that can help:

  1. Be proactive. Always over-communicate with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold.
  2. Don’t miss deadlines. If anything will be late, call with advance notice.
  3. Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems to make it right goes a long way towards making the bank want to work with you. (Remember, they don’t want to foreclose on your house!)
  4. Start keeping careful records of every conversation you have with the bank. Nothing counts unless it is in writing. Make sure to keep track of each person you speak with, what they said, any promises made and any deadlines. Keep an organized file with all the correspondence you receive from the bank and any you send. Make detailed notes of conversations you have and be sure to include the date/s and the names and title of the people you spoke with.
  5. Explore all your options, including short sale, loan modifications, and bankruptcy. Depending on the details of your personal situation, you may be able to dramatically slow down the foreclosure process with enough effort. Each bank has its own policies to help borrowers avoid foreclosure so reach out to your lender and see what they can do for you.
  6. Think about a Short Sale If you can’t keep your house, you might be able to sell it for less than what you owe. This is called a “short sale.” Your bank has to agree to it, but it can be better than losing your home completely. It might still affect your credit, but not as much as other options.
  7. Access Resources for Homeowners Every state has a banking department that can provide detailed information about how to avoid or deal with a foreclosure and housing counseling services (through HUD) that provide answers to help people make informed housing decisions.
  8. Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you. It’s important that you proactively seek solutions to your problem.

If you’re looking to sell your Connecticut house in foreclosure fast, call us now.

Selling a house in foreclosure in Connecticut can be hard, but there are ways to make it better. By learning about the rules and talking to your bank, you can improve your chances. Also, don’t forget to check out government programs that might be able to lend a hand. Remember, it’s okay to ask for help and take steps to make things better for yourself and your family.

Here are some resources that may be helpful:

We’re Here to Help

Selling your house in foreclosure in Connecticut can be challenging. But there are plenty of things you can do to give yourself the best chance at solving your situation. The most important thing is to be proactive. Give your bank a call right away to see if they can help you and take advantage of all the resources available to you.

RMG is here to help too! We specialize in helping homeowners in situations including foreclosure around Connecticut get out of difficult situations and avoid foreclosure. In certain circumstances, we can negotiate directly with the bank to reduce the amount you owe and (sometimes) even help you walk away from your property with cash.

If you need to sell a property near Connecticut, we can help you.

We buy properties like yours from people who need to sell fast.

Give us a call at (860) 452-2550 anytime
or fill out the form over here today! >>

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